Former Treasury DG appointed Standard Bank SA CEO

Standard Bank Group has announced the appointment of Lungisa Fuzile as Chief Executive of
The Standard Bank of South Africa with effect from 15 January 2018. Lungisa Fuzile
takes over from Sim Tshabalala who has served as Chief Executive of Standard Bank SA from June 2008 to date.

The company said this appointment follows the recent changes to the Group’s executive structure, which resulted in the
disbanding of the joint group chief executive construct. The leadership of SBSA was a component of
Sim’s responsibilities when he served as the joint-group chief executive. This appointment removes
the dual role for Sim, which had become both unsustainable and inappropriate.

Lungisa Fuzile will be accountable to the board of Standard Bank SA, with a matrix reporting line to the Group Chief
Executive, Sim Tshabalala. Lungisa enjoyed a 20-year career in public service, culminating in his role
as Director-General at the National Treasury from May 2011 until May 2017.

The Group said it looked forward to welcoming Lungisa to Standard Bank.

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